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Posted Thu, 15 Aug 2024 20:08:03 GMT by ej
Hello, My wife only income is UK bank interest and coupon payment from Gilt. The total is less thatn £10,000, Does Gilt coupon as as the £10,000 of question 6 of the Gov link "Check if you need to send a Self Assessment tax return"? Does it mean she doesn't need to file a self assessment?
Posted Tue, 20 Aug 2024 17:10:49 GMT by ej
Hello, Any update please?
Posted Thu, 29 Aug 2024 11:13:28 GMT by HMRC Admin 20 Response
Hi,
Deeply Discounted Securities’ (DDS) are government securities, commercial bonds and loan stock, where the amount paid on redemption is higher than the price at which they were issued. The difference is the discount and represents the whole or part of the reward to the holder of the security for the use of the money borrowed by the security issuer. Where certain conditions apply, the tax rules ensure that gains on such securities are taxed as income, rather than as capital gains. (SAIM3010 - Deeply discounted securities: introduction). 
If you invest in deeply discounted securities, put the difference between what you paid for the bond and what you redeem or sell it for in box 3 of SA101 (page Ai1). 
Thank you.

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